Sterling Pharma Solutions, a global contract development, and manufacturing organisation, has completed the acquisition of Novartis Ringaskiddy’s active pharmaceutical ingredient (API) manufacturing facility in Ringaskiddy.
Sterling plans to invest in the Ringaskiddy facility to grow its contract development and manufacturing pipeline, bringing additional jobs to the site over the coming years.
The deal was first announced in March 2022, and 350 staff at the site have now transferred to Sterling Pharma Solutions.
The facility will also continue to manufacture a number of Novartis’ APIs for cardiovascular, immunology, and oncology medicines at Ringaskiddy as part of the deal.
"The site will provide small molecule API development and manufacturing services for customers across the world in a range of therapeutic areas,” said Kevin Cook, Sterling’s Chief Executive Officer.
Mr Cook said the acquisition will add new ‘capabilities to Sterling Pharma Solutions.
“Strategically, the acquisition adds a European hub to our network, and not only expands our total capacity and workforce of highly skilled experts but adds new capabilities in peptide manufacturing and large-scale chromatography.”
Novartis Ireland currently employs about 1,500 people across three locations in Cork and Dublin.
The acquisition is part of Sterling’s ongoing business strategy, which has seen the company grow from 300 employees across two sites in 2020, to 1,300 employees based across five facilities in the UK, the US, and Europe.